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Anyone save for the future?

(13 Posts)
Brewster Tue 04-Mar-14 19:42:44

Does anyone save for anything other than holidays, rainy days or emergencies?

Do you have a large lump sum that you add to for your future or if you lost your job…

foxdongle Tue 04-Mar-14 20:14:43

yes we save a set amount every month for future which is not touched.
we have separate savings accounts for other stuff which we also add to monthly;
1 for holidays, 1 for car/house, 1 for Christmas/birthdays/misc.
plus dcs have their future accounts plus 1 for general things.
that looks anal written down but it works for us smile

Splatt34 Tue 04-Mar-14 22:32:48

Yes. Not as much as I'd like & it gets broken into occasionally (new fascias & sofets the latest) but it mainly is untouched. Will likely be needed for forever house move in couple of years time.

BackforGood Tue 04-Mar-14 22:41:41

Yes, we save to pay chunks off the mortgage. It's discounted for a fixed term, then once we come out of the discount period, we pay a bit more off.

CogitoErgoSometimes Wed 05-Mar-14 06:37:43

I have rainy day savings and a pension pot but I suppose, like the PP, my additional cash is mostly tied up in the value of my home.

TalkinPeace Wed 05-Mar-14 19:35:18

I have savings
I do not have "a job", nor does DH
we both have rainy day plans

Silverfoxballs Wed 05-Mar-14 19:48:49

Message withdrawn at poster's request.

MsVestibule Wed 05-Mar-14 21:28:59

When I lived alone and had a proper job that meant I actually earned some money, yes, I always saved 'for the future'. I called it (privately!) my 'Fuck You' or 'Freedom' money, i.e. if work became unbearable, I didn't have to stick it out. When I left work, I had about three years salary saved.

Now I'm a SAHM, I still keep some of my old investments in my name. Not sure if DH knows about them or not! I'm cashing one of them in to pay for some renovations to the house, but will always make sure I have enough money to live on (frugally) for at least 6 months.

But surely 'rainy day' savings are savings for the future?

sarahquilt Thu 06-Mar-14 06:49:16

We save 800 a month and it's not to be touched for anything silly like holidays.

Cindy34 Thu 06-Mar-14 09:27:18

Yes but not a lot. Saved up to pay off mortgage.

Problem at the moment is that the interest rates are so low, money in a bank seems to lose value. Interest rates need to be higher to encourage people to save.

OnIlkleyMoorBahTwat Thu 06-Mar-14 10:46:26

Yes, we aim to live on my salary and save DPs as he is self employed and it is not a reliable income (he doesn't earn that much at the moment).

We want to extend the house and the savings will pay for some or all of the cost.

After that we will probably keep saving and put some of the spare money towards the mortgage, but not unless the interest rate on the mortgage goes above the interest rate on savings (currently have a very low rate tracker mortgage).

AntoinetteCosway Thu 06-Mar-14 10:57:07

We are building (oh. so. slowly) an emergency fund of £10k which should enable us to live very frugally for 6 months if DH lost his job. Aside from that we save for specific things.

Muminneed60 Thu 06-Mar-14 16:41:54

No savings at all well around £300 but that will be used for car tax so does not count.

We do not go on holiday.
We do not save for Christmas or birthdays.
The dcs have a savings account. We put the monthly minimum in blush

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